According to a Reuters report, the Reserve Bank of India has scheduled a fresh cash withdrawal exercise for Monday due to technical difficulties that hampered turnout at a longer-duration auction. The central bank plans to hold an overnight variable rate reverse repo (VRRR) auction worth ₹5 lakh crore, following a 30-day auction where banks only placed bids totaling ₹2.59 lakh crore. The bidding process had to be moved to a different platform after the E-Kuber system experienced technical faults.

by shortkt.com✓

4 hours ago